Brands are essentially patterns of familiarity, meaning, fondness, and reassurance that exist in the minds of people.Tom Goodwin
We define branding as the strategy for uniquely identifying one product from another. It is an activity that defines how we convey products to their consumers. This includes logos, images, packaging, designs, and colours that place the product in the minds of the consumers. Your brand should convey company values.
Branding is critical in driving the influence of your company in the right direction. You decide what, how, and when things get done, not your competitor. You should set the tone right from inception and decide how people are to perceive your company. The choices you make will raise brand value and drive new business if done correctly, but is detrimental if employed wrongly.
There are two basic kinds of branding: Corporate Branding & Product Branding. Corporate branding involves marketing the product(s) under a corporate banner. Think Iams, IBM, Xerox, and thousands of other companies. They market a whole plethora of products under one name. Product branding will focus on the product name: Lucky Charms, Sugar Crisp, Captain Crunch, etc. All are Post Cereals but market as individual brands.